Analysts Expect Gildan Activewear Inc. (NYSE:GIL) to Post $0.54 Earnings Per Share

Brokerages expect Gildan Activewear Inc. (NYSE:GIL) (TSE:GIL) to announce $0.54 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Gildan Activewear’s earnings, with estimates ranging from $0.52 to $0.57. Gildan Activewear posted earnings of $0.30 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 80%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Gildan Activewear will report full-year earnings of $2.12 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $2.25. For the next year, analysts expect that the firm will post earnings of $2.34 per share, with EPS estimates ranging from $2.20 to $2.43. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Gildan Activewear.

Gildan Activewear (NYSE:GIL) (TSE:GIL) last announced its quarterly earnings data on Wednesday, August 4th. The textile maker reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.17. Gildan Activewear had a net margin of 14.02% and a return on equity of 23.34%. The company had revenue of $747.20 million during the quarter, compared to analysts’ expectations of $699.16 million. During the same period in the previous year, the company earned ($0.99) EPS. The business’s quarterly revenue was up 225.3% compared to the same quarter last year.

GIL has been the subject of several research reports. National Bank Financial boosted their price objective on shares of Gildan Activewear from C$50.00 to C$53.00 and gave the company an “outperform” rating in a research note on Wednesday, July 14th. TheStreet upgraded shares of Gildan Activewear from a “c” rating to a “b” rating in a report on Friday, August 6th. Zacks Investment Research upgraded shares of Gildan Activewear from a “hold” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a report on Monday, July 12th. TD Securities restated a “buy” rating and set a $52.00 target price on shares of Gildan Activewear in a report on Tuesday, July 13th. Finally, Desjardins lifted their target price on shares of Gildan Activewear from C$51.00 to C$52.00 and gave the company a “buy” rating in a report on Tuesday, August 10th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $46.06.

Shares of NYSE GIL traded down $0.57 during trading on Monday, hitting $37.30. 400,319 shares of the company traded hands, compared to its average volume of 441,482. Gildan Activewear has a 1 year low of $18.93 and a 1 year high of $40.27. The company has a 50-day moving average price of $36.79 and a 200-day moving average price of $34.96. The firm has a market capitalization of $7.40 billion, a P/E ratio of 20.05, a P/E/G ratio of 0.64 and a beta of 1.59. The company has a quick ratio of 1.79, a current ratio of 3.54 and a debt-to-equity ratio of 0.37.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 20th. Shareholders of record on Thursday, August 26th will be issued a $0.154 dividend. The ex-dividend date of this dividend is Wednesday, August 25th. This represents a $0.62 dividend on an annualized basis and a yield of 1.65%. Gildan Activewear’s dividend payout ratio is currently -344.44%.

A number of hedge funds have recently modified their holdings of GIL. Mackenzie Financial Corp lifted its holdings in Gildan Activewear by 104.5% in the 2nd quarter. Mackenzie Financial Corp now owns 2,511,834 shares of the textile maker’s stock worth $92,595,000 after buying an additional 1,283,545 shares in the last quarter. BlackRock Inc. increased its position in shares of Gildan Activewear by 49.7% in the 2nd quarter. BlackRock Inc. now owns 2,992,238 shares of the textile maker’s stock worth $110,473,000 after purchasing an additional 993,551 shares during the last quarter. FMR LLC increased its position in shares of Gildan Activewear by 7.6% in the 2nd quarter. FMR LLC now owns 12,701,980 shares of the textile maker’s stock worth $468,691,000 after purchasing an additional 893,648 shares during the last quarter. Royal Bank of Canada increased its position in shares of Gildan Activewear by 28.5% in the 2nd quarter. Royal Bank of Canada now owns 3,140,222 shares of the textile maker’s stock worth $115,937,000 after purchasing an additional 696,469 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Gildan Activewear by 107.5% in the 1st quarter. Morgan Stanley now owns 544,403 shares of the textile maker’s stock worth $16,692,000 after purchasing an additional 282,028 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

About Gildan Activewear

Gildan Activewear, Inc engages in the manufacture and sale of printwear and branded apparel. Its products include activewear, underwear, socks, hosiery, and legwear. The firm operates under the brand name Gildan, American Apparel, Comfort Colors, Gold Toe, Anvil, Secret, Silks, Kushyfoot, Peds, and Mossy Oak.

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